According to research and current figures, £15 billion of assets are lying in the unclaimed accounts of the deceased! This means that our loved ones may never receive cash and savings that could help to financially secure their futures and make a better life for their families. Known in law as ‘Bona Vacantia’ (ownerless goods)...
The move to an online, probate application system hasn’t been easy with well-publicised and inevitable probate application delays. If that wasn’t enough, HM Courts & Tribunal Service (HMCTS) are still the subject of a government consultation where a proposal has been put forward to bring in a new flat rate fee of £273. This marks...
The terms ‘Will’ and ‘Trust’ are often confused. Whilst many people tend to know that they both have something to do with giving your assets to others, they are very different and serve different purposes. However, that’s not to say that the two are linked and complement each other. A Will First and foremost, everybody...
Inheritance hunters, exploiting older, vulnerable people is on the increase according to charities such as ‘Age UK.’ The issue hasn’t gone unnoticed by Labour MP Fabian Hamilton who is currently lobbying for changes to the law to help combat such exploitation. Inheritance hunters are people who seek out and exploit older people, often with dementia,...
A combination of a new electronic processing system and incredibly high demand that has put the probate application service under immense stress has resulted in ‘The Ministry of Justice’ (MOJ) looking to increase ‘Grant for Probate’ fees from £155 to £215. This applies to both probate professionals and individuals. Under the new proposal they are...
Generally speaking – pensions are not considered part of your estate and are not subject to Inheritance Tax. However, there are ways that a pension pot can become part of your estate. Furthermore, there are things that can be done to ensure your partner and family benefits from your pension. To ensure your partner, or...
The number of Wills that are challenged, based on fraud or forgery is increasing – although not great in number. However, this trend does underline the need to ensure that Wills are both up to date and that an individual’s wishes, relating to the Will, are made known to close family and friends. However, should...
Should a loved one die abroad, the fact that they are overseas can add to your stress, compounding the tragedy. However, provided you know what is required, the process of dealing with the situation can be relatively straight forward. Furthermore, there will be help at hand, from a variety of avenues, to help with the...
Up until July 2019 and the implementation of ‘Claudia’s Law’, families of missing persons had no legal authority to deal with the property and financial affairs of a missing family member. Previously, a missing person had to be declared dead under the ‘Presumption of Death Act 2013;’ this could only be applied after a person...
When you die there is a process consisting of various stages, that needs to take place. Whilst it might seem a little macabre to consider this, it’s worth you and your loved ones understanding the process so that should the worst happen, they know what’s involved and have an understanding of what’s required of them....
